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Hanwha Techwin Launches Eco-friendly Electric Bus Business

Hanwha to form a development and marketing partnership for environmentally-friendly electric buses with Zyle Daewoo Bus

New move expected to provide foothold for entering the global electric bus market

[July 16, 2015] Hanwha Techwin (Security & Machinery Solution Business Group President & CEO Kim Cheol-kyo) announced on July 15th that the company has signed an agreement for the joint development and marketing of environmentally-friendly electric buses with Zyle Daewoo Bus.

Hanwha Techwin will develop the electric powertrain and battery pack for the electric vehicles (EVs), while Zyle Daewoo Bus will oversee the bus design and testing.

With the new agreement, Hanwha Techwin will begin supplying battery packs for electric buses manufactured in Zyle Daewoo Bus' overseas production facilities, providing the company with a new foothold for entering the global eco-friendly EV market.

An electric powertrain refers to the main components of an EV that produces and delivers power to drive the vehicle, including the motor, inverter, battery pack, and an integrated control system for the efficient management of these subsystems.

Electric Powertrain

Hanwha Techwin has accumulated over ten years of experience in electric powertrain and battery pack technologies by developing hybrid vehicles for the defense industry, and has been expanding its presence in the environmentally-friendly EV sector recently by signing a comprehensive technology partnership agreement with MIRA, an automotive engineering and research company based in the United Kingdom, and working with Begins Jeju¹ to operate an EV battery leasing business in Jeju².

Zyle Daewoo Bus, Hanwha Techwin's partner in this new venture, is one of the top players in the passenger bus industry manufacturing and supplying over 10,000 vehicles per year around the world, and is widely regarded as Korea's leading company in eco-friendly buses such as hybrid and electric buses.

A spokesperson for Hanwha Techwin stated that "the new agreement is a prime opportunity for expanding Hanwha Techwin's defense business into the civilian sector," adding that "Based on the company's core technologies and production capabilities in defense vehicles, the company will actively develop new future industries including not only battery packs and electric powertrains but unmanned defense robots, micro auxiliary power units, and more.

¹ Begins Jeju is a company that supplies and operates electric buses, taxies, and battery swapping system.

² Jeju (officially the Jeju Special Self-Governing Province) is the largest island in Republic of Korea.

Hanwha Group

Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea and a “FORTUNE Global 500” company. Hanwha Group has 61 domestic affiliates and 258 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 65 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.